CFO Edge Logo
  Home > Resources > Retaining Accounting Staff Article  
     
 

How to Retain Your Accounting Staff in an Improving Economy

 
  William K. Thorpe, Partner, CFO Edge, LLC  
   
  Open as PDF Open the entire article as a PDF  
     
  Article Summary  
A potential downside of the rebounding economy is higher staff turnover, including higher accounting staff turnover.

As more companies move into a hiring mode, your accounting staff may be tempted to see if the "grass is greener" among the growing number of job opportunities. Or other companies may try to hire your team members away from you.

Employee turnover in your accounting staff can be costly as it can easily run into thousands of dollars to recruit and train replacements.

This article suggests five proactive steps to take to retain your accounting staff. Areas addressed include cross-training, skill set growth opportunities, career path opportunities, gauging discontentment, and pay scales.

Also reviewed are elements of the plan to have in place for when accounting staff turnover does occur.

Accounting staff turnover cannot be completely eliminated, but you can take a number of proactive steps to keep turnover to a minimum.

In support of your retention efforts, you may be interested in talking with an outsourced CFO services provider experienced in creating and implementing accounting staff retention plans.

  Open as PDF Open the entire article as a PDF  
     
Subscribe to CFO Inside Edge

Our monthly newsletter delivers first notice of new white papers and articles plus remarks on performance challenges and solutions. View past issues and subscribe.

 
 
 
CFO or Controller: What's Right for Your Business?
White Paper
CFO or
Controller:
What's Right
for Your
Business?
Outsourced CFO Services
White Paper
Outsourced
CFO Services
Performance Measurement
White Paper
Performance Measurement
Strategic Planning & Forecasting
Brief
Year-End Strategic Planning & Forecasting
Planning a Business Exit White Paper
White Paper
Planning a
Business Exit
 
CFO Edge Blog CFO Edge on Twitter CFO Edge on LinkedIn
 
Intuit Certifications